Nigeria: Silencer Market 2024

Silencer Market Size in Nigeria

In 2021, the Nigerien silencer market decreased by -6.6% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, showed a resilient increase. Over the period under review, the market reached the maximum level at $X in 2020, and then contracted in the following year.

Silencer Production in Nigeria

In value terms, silencer production dropped to $X in 2021 estimated in export price. In general, production, however, showed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 57% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Silencer Exports

Exports from Nigeria

In 2021, exports of silencers and exhaust pipes from Nigeria shrank to X tons, declining by -7.9% compared with the year before. Over the period under review, exports saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 652%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, silencer exports dropped significantly to $X in 2021. Overall, exports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 823%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for silencer exports from Nigeria, with a 98% share of total exports. It was followed by Italy (X kg), with a 1.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-43.7% per year) and Germany (-34.4% per year).

In value terms, Belgium ($X) emerged as the key foreign market for silencer exports from Nigeria, comprising 98% of total exports. The second position in the ranking was held by Italy ($X), with a 1.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-42.8% per year) and Germany (-40.8% per year).

Export Prices by Country

The average silencer export price stood at $X per ton in 2021, declining by -7.7% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 23%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Italy ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+1.6%), while the prices for the other major destinations experienced a decline.

Silencer Imports

Imports into Nigeria

In 2021, the amount of silencers and exhaust pipes imported into Nigeria reduced remarkably to X tons, which is down by -47.5% compared with 2020 figures. Over the period under review, imports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 with an increase of 136% against the previous year. Imports peaked at X tons in 2020, and then contracted significantly in the following year.

In value terms, silencer imports declined sharply to $X in 2021. In general, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.3% against 2017 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 55%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Turkey (X tons) and the United States (X tons) were the main suppliers of silencer imports to Nigeria, together accounting for 57% of total imports. Belgium, Germany, the Netherlands, Lebanon, Italy, Israel, India, France, the United Arab Emirates and Japan lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were in France (with a CAGR of +32.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Germany ($X) and Belgium ($X) were the largest silencer suppliers to Nigeria, with a combined 54% share of total imports. These countries were followed by China, the United States, Italy, the Netherlands, the United Arab Emirates, France, Lebanon, Israel, India and Japan, which together accounted for a further 35%.

Among the main suppliers, France, with a CAGR of +37.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silencer import price stood at $X per ton in 2021, picking up by 43% against the previous year. In general, the import price showed a resilient expansion. The growth pace was the most rapid in 2015 an increase of 59% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :